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Congressman Bennie Thompson: Don't buy Iraqi currency



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Congressman Bennie Thompson: Don't buy Iraqi currency

Post by rocky on Tue 04 Feb 2014, 11:57 am

Congressman Bennie Thompson: Don't buy Iraqi currency

Feb. 4, 2014 7:41 AM |

U.S. Rep. Bennie Thompson is warning Mississippians against the purchase or exchange of Iraqi dinars:
The state’s 2nd District congressman released a statement Monday saying his office had received numerous complaints from constituents who had purchased Iraqi dinars and couldn’t use them or exchange them for other legal tender.
He directed anyone who has purchased Iraqi dinars to contact the U.S. Commodity Futures Trading Commission to file a complaint or issue a tip at 1-866-366-2382.
The dinar is not traded on any legitimate foreign exchange and is worth a fraction of a dollar.
A federal grand jury last money indicted three men from the Toledo, Ohio, area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency and two nonexistent hedge funds.
Investors lost about $23.8 million from dinar sales, according to the indictment.

Read more:

Interacting Investor
Interacting Investor

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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by weslin3 on Tue 04 Feb 2014, 12:45 pm

The 2 nonexistent hedge funds is probably is what got them into trouble. Not the dinar.

Bama Diva

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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by Bama Diva on Tue 04 Feb 2014, 6:35 pm

If they want to exchange for legal tender, all they have to do is contact Ali. IF their dinar is in good order, he can help them, doncha think???

Another possible problem is that some people selling dinar are unscrupulous. The dinar owners possibly could have been told that the RV was imminent and if someone has not studied diligently, it would be east to believe that. Imo

Quiet Investor
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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by b2stepblue on Tue 04 Feb 2014, 7:43 pm

How can they get away with this ? Well, keep in mind folks that the currency we are holding is NOT VALID or TRADEABLE. Iraq maintains anyway, that in legal terms it was NEVER correct to have this currency being LEGALLY SOLD outside of Iraq.

Subject: MY (POSSIBLY) MOST IMPORTANT POST EVER !! BY TD   Today at 6:33 pm


Well Ponee, after much thought I have decided to post this message to dinarians . Thank you & your forum for this to reach some people. your forum has been a a Godsend of diverse news & discussion from all sides, different perspectives without prejudice and I know many, many dinarians like myself are proud of what you've accomplished with this forum.

Fellow Dinarians, today I'm coming forth with some information I obtained from my amigo in Iraq and I've been struggling whether or not to post this BUT I have always felt a sense of purpose as a poster to bring upon some very needed discussion to the table many times really with the goal of debunking or to offset the HUGE false hopium being spread around and to offer a word of caution.

With the post today coming from Congressman Bennie Thompson I am more at ease to provide the post. If you haven't done so please read it as well as the IMF answer on Baghdad Investor about one of the very famous gurus.

I had discussed by phone several days ago about some of my findings with Ponee and had talked about what I am about to disclose to you.

Without more hesitation let me first just state my news of interest and my reasoning behind my action and then lay out some points for all of you to seriously consider as you move ahead as a Dinar Investor.

I essentially have cashed out 95% my holdings in the dinar

Now, let me lay out my reasons why :

I am NOT in a financial bind as I am blessed to have a very good job and career. My most important reason was notice I received of "strong discussions" within Iraqi PTB's to NOT exchange these older notes (that we all are holding) OUTSIDE of Iraq when the go ahead is provided to do currency reform execution and introduce the new notes & coins. While the decision is NOT 100% finalized I was led to believe it is a unanimous consensus. For me that's VERY TROUBLING !!

As I was told the amount of currency outside Iraq numbers a WHOPPING 30-40 TRILLION DINARS !! The numbers just aren't there to cash out that number of notes ! Plain economics.

As they proceed with the RD ( straight RV was never in the cards) their intentions (I'm told) is to provide an exchange and modest purchasing power increase in gradual form to THEIR CITIZENS !! and it will be done so in a very short time allotted.

And the outside world : WELL , sorry but, when you bought into a "speculative investment" , you also bought into a "heavy risk".

How can they get away with this ? Well, keep in mind folks that the currency we are holding is NOT VALID or TRADEABLE. Iraq maintains anyway, that in legal terms it was NEVER correct to have this currency being LEGALLY SOLD outside of Iraq.

Well, what about all the stuff we have heard all along ? That the RV would pay for the war ? George W. Bush said this and that ? Oil Credits, UST treasury hoarding Trillions of dinar ? , Three letter agencies & not Iraq is in charge etc. etc. etc.
Well my short answer is : Show us ANY PROOF of ANY of these !!

As we have seen for years now the logo "SCAM" attached to this investment. There are VERY STRONG, compelling reasons that attachment has been in the shadows as a dark cloud. In my opinion Iraq is indeed in charge of it's affairs, they will set the ground rules of exchange, all of the how, when & where. THE RUMOR if you want to call it that is VERY POSSIBLE for me and I don't want to lose my entire investment thus, I made the decision to C/E NOW !!

Other news I've obtained may be secondary BUT it is significant in terms of the little hope you may be clinging onto if you don't believe the rumor of a IN HOUSE EXCHANGE as not credible. Namely :

1) The CBI has lately come out favoring delay till end of the year in order to shore up the banking industry, it's platform of mechanisms to conduct business both internationally and domestically.

2) The hope we had as the elections approached to have Iraq move on currency reform . It's a stalemate of politics where no party wants to provide any edge to the other. MANY members of parliament are routinely NO SHOWS to conduct the business of the people. So the elections as a wild card is dwindling each day closer.

3) The instability of Iraq continues both politically and in economic progress. Various countries and MNC's have cooled their jets and want to see better stability before proceeding with investments and pouring of capital. The militants controlling various cities and provinces is VERY REAL and limited progress has been made to regain foothold by the GOI.

4) The HCL agreement with Kurdistan is on hold as a major rift between Turkey and Baghdad is still prominent and the Turks have their own mess to focus on and have told the Iraqi's to take a hike at least for a while.

These are just some additional points to consider while you meditate what to do with this investment.

Of course all I've written is to be regarded as my opinion and rumors since almost everything we read is as well.

You have to decide what's right for you and proceed forward. Do please your own diligence , fact finding & homework.

All I can really say for myself is that my mistake LONG AGO was to buy toooo heavily into the hopium and putting SO MUCH money into dinars. I wish I had just bought maybe 1-2 million dinars and that's all BUT I got carried away into LALA Land with dreams of riches.
AS I cashed out yesterday 95% of my holdings I also felt a huge burden being lifted from my chest. I was no longer tied to the computer to read about "today's false hopium". As they say, the truth will set you free and at least for myself : I'M RELIEVED !!

Of course as I just said I cashed out 95%. I'm holding onto the 5% just in the POSSIBILITY that the 100-1 longshot horse will actually come in first and I really don't care that such little holdings will actually become truly worthless paper. Perhaps I can bore my grandkids with a story one day and give it to them as a momento.

So is this the end of the line for TD ? Not necessarily. Throughout all this I did make a good friend over there in the sandbox and if I come into any information I'll post and pass it on to you.

But in the meantime I am at peace with my decision, plan to use some of the money into our steaming stock market right here in the good old USA ! I plan to diversify into commodities, precious metals also. Don't put all your eggs in one basket is sound advice.

Best wishes and Best regards to all of you.

I'll be back if I can lend any kind of opinion or tidbit to share.


Understood Investor
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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by jacksmack on Tue 04 Feb 2014, 9:02 pm

"worth a fraction of a dollar"

Gee..... you don't say? .......Why would I trade something that already retains a high value? Isn't the idea to buy low an sell high? What a douche, I wouldn't walk across the street to piss on this guy an hey, dinars might just be a pipe dream but this queer don't know that anymore than anyone else.

Wayne Irby
Cain't Let Go Investor
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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by Wayne Irby on Wed 05 Feb 2014, 6:38 am

TD, I have news for you the Amigos are a lot farther south and not in the ME, wrong sandbox!


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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by Neno on Wed 05 Feb 2014, 11:22 am

Lol Wayne, TD is a guru trying to cover his arose from all the crap he proclaimed loudly over the past thru the internet. Thats my opinion... ;)

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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by weslin3 on Wed 05 Feb 2014, 12:41 pm

Yep! I think he is the one saying it would be $30 a dinar to the USD.  lol  Crazy!

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Re: Congressman Bennie Thompson: Don't buy Iraqi currency

Post by Diamond on Wed 05 Feb 2014, 1:05 pm

Why would an american president pass order 13303 for us to invest in Iraq if it's no good??

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